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Colorado Direct Financial Incentives
Area Development Online Research Desk (Feb/Mar 09)
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Grants/loans:
The Office of Economic Development and International Trade (OED/IT) allocates and administers federal Community Development Block Grant funds, which are set aside for business finance projects. Loans and infrastructure grants are provided for projects that create or retain jobs principally for low- or moderate-income persons. For loans, contact the state regional revolving loan funds. Businesses interested in infrastructure grants should contact OED/IT directly. In addition, any business locating or expanding in the state is potentially eligible for Economic Development Commission funds. Projects must demonstrate a high potential for success and economic impact and be supported by matching local and private funds. Certified Capital Companies (CAPCOs) are for-profit companies that are authorized to provide equity, debt, or other forms of financing for startup or expanding businesses in Colorado. Contact information for the CAPCOs may be found on the OED/IT website. PABs: The state's private activity bond allocation program has been established to provide industry with tax-exempt PABs to encourage private investment in creating and sustaining jobs. PABs are issued for the following activities: manufacturing, fixed assets, and qualified redevelopment projects, as well as financing hazardous waste facilities, solid waste disposal facilities, and water and sewer facilities. Customized training: The Colorado First Customized Training Program provides training assistance for the expansion of existing companies and the development of new firms. Companies receiving assistance must be non-retail in nature and jobs must be permanent and non-seasonal. The Colorado Existing Industry Training Program provides assistance for training for companies that are undergoing a major technological change, and for training or retraining their workers for specific jobs where training is deemed crucial for the continued success of the company. Companies must be non-retail in nature and jobs must be permanent and non-seasonal. For both programs, companies must provide 40 percent of these training costs. Colorado State Contact: Director State of Colorado Office of Economic Development 1625 Broadway, Suite 1710 Denver, CO 80202 (303) 892-3840 Fax: (303) 892-3848 |
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